I have several video projects in Final Cut Pro that have many bad shots, under and overexposed, and now that I've learned how well Color works, I'd like to do color corrections on certain clips.

What's the best workflow, to color correct certain clips in a FCP7 sequence?

Can you send a clip out, like you can to Motion 4, make changes and have it updated in the timeline? It doesn't look like Color works the same way. I color corrected a copy of the original clip and tried to reconnect media to the new clip but it wouldn't let me because it had a different reel number, as well as 3 other warnings.

Something to beware, when you do a "pick-and-choose" is that you are going to wind up with scattered source media, leaving yourself open to offline errors and lost files.

The other issue that never fails to cascade into making little things big, is that once you start correcting "a few clips", it is inevitable that the now corrected media starts to stand out, making the shots around them seem less acceptable, and this snowballs. After a couple of decades of doing this, one learns to ignore the comments about "just fixing a few shots" going into a project. In fact, the better the correction the more glaring the minor problems become. In for a penny, in for a pound. If you are doing this for money, that quoted "flat rate" is where your livelihood goes to die.